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Regardless of whether or not they're convicted -- what country would ever entrust their sovereign wealth fund with Goldman Sachs at this point?
by empath75 8y ago
Regardless of whether or not they're convicted -- what country would ever entrust their sovereign wealth fund with Goldman Sachs at this point?
- seanmcdirmid 8y agoOne that was trying to siphon as much of the fund as possible into their prime minister's personal bank account?
- TuringNYC 8y agoClients have short term memories. After all blowback from 2000-2002 and then 2006-2008, i thought, for sure, no one would do business with many of these firms. But memories are short lived.
- cm2187 8y agoOne thing to keep in mind is that after the crisis, a lot of banks scaled back (or were forced to scale back). Lots of banks exited the investment banking market, leaving the incumbants between them. Clients probably didn't have that much of a choice.
- rchaud 8y agoYou make it sound like people vote on these things. Goldman et al skulk around country clubs, policy lunches, even freshman congressional rep orientations, looking to "build relationships". They take them to fancy parties and dinners paid for by the bank, digging their claws in. When the time comes to do a bond issue, they get the call.